INR – USD Futures

  • Indian Rupee- United States dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region. India is one of UAE’s largest trade partner and Indian’s consist of over 30% of the total populace of UAE.

    Indian economy is one of the fastest growing economies in the world and is ranked third in global GDP on a PPP basis. The Indian Rupee contract has attracted the attention of several global funds and organizations to hedge their Indian Rupee risk offshore in UAE

    • Hedging window available long after Indian currency markets close
    • Arbitrage opportunity with the conventional INR-USD contract traded on the index
    • Low size , and impact cost makes it a very good contract for traders
    • Unique trading opportunity for Indians in the region and international funds with exposure to India to manage their risk
    • Contract size is variable and depends on the Indian Rupee movement against the USD, making it better to take advantage on movements in the Indian Rupee
    • Cash settled in USD on the Indian Central Bank reference rate eliminating any basis risk
    • UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
    • Market hours from 7.30 AM India time till 1.25 AM India time
    • Overlaps most trading zones including Europe and United States
  • ContractParameters
    Contract Symbol DINR
    Underlying Indian Rupee
    Contract Size INR 2,000,000
    Notional Contract Value INR 2,000,000
    Trading Currency US Dollar
    Settlement Currency US Dollar
    Price Quote US$ quoted in Cents per 100 Indian Rupees ( e.g. 209.56 /209.62 US Cents per 100 Indian Rupees)
    Tick Size US$ 0.01 US Cents
    Tick Value US$ 2
    Settlement Basis Open Positions at expiry of contract shall be settled in US Dollars as per the Final Settlement Price (FCSP) declared by the Exchange. 
    Final Cash Settlement Price FCSP would be based on the official US Dollar reference rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the day of trading or earliest available date
    Last Day of Trading Two Business Days prior to the last working day of the contract month
    Trading Days Monday through to Friday
    Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4)
    Trading Months Monthly contracts for twelve months forward
    New Contract Listing Business day immediately following the last trading day
    Max Order Size 500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
    Daily Price Movement Limit No Price Limits - Note 1*
    Initial Margin based on SPAN Click on the "Initial Margin" TAB
    Calendar Spread Margin 100% benefits is offered on calendar spread positions
    Note 1*: For the avoidance of "fat finger" errors, price band shall be 1.5 US Cents from previous settlement price If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

  • Expiry MonthExpiry CodeLast Trading Day
    Oct'18 DINR-20181029 29 Oct 2018
    Nov'18 DINR-20181128 28 Nov 2018
    Dec'18 DINR-20181227 27 Dec 2018
    Jan'19 DINR-20190129 29 Jan 2019
    Feb'19 DINR-20190226 26 Feb 2019
    Mar'19 DINR-20190327 27 Mar 2019
    Apr'19 DINR-20190426 26 Apr 2019
    May'19 DINR-20190529 29 May 2019
    Jun'19 DINR-20190626 26 Jun 2019
    Jul'19 DINR-20190729 29 Jul 2019
    Aug'19 DINR-20190828 28 Aug 2019
    Sep'19 DINR-20190926 26 Sep 2019